QUOTE AND NEWS
Motley Fool  Aug 22  Comment 
If Wynn Resorts' stock rises over the next five years Asia will be a big driver.
TheStreet.com  Aug 20  Comment 
a NEW YORK (TheStreet) -- Wynn Resorts , controlled by Las Vegas billionaire Steve Wynn, has been operating its Macau resorts for over eight years and plans to openaWynn Palace by the second half of 2016. The company's operations in...
Benzinga  Aug 13  Comment 
Canadian Solar (NASDAQ: CSIQ) shares surged 7.21% to $26.77 in pre-market trading after the company posted a profit in the second quarter. FuelCell Energy (NASDAQ: FCEL) shares gained 5.29% to $2.39 in pre-market trading after Cowen & Company...
TheStreet.com  Aug 7  Comment 
NEW YORK (TheStreet) -- Wynn Resorts shares were upgraded to "buy" from "hold" with a $244 price target by analysts at Craig-Hallum on Thursday, during a week in which the stock has declined over 7%.The upgrade comes one day after an analyst a...
Market Intelligence Center  Aug 5  Comment 
Wynn Resorts Ltd (WYNN) was selected by MarketIntelligenceCenter.com’s trade-picking algorithms today after trading between $208.57 and $214.32 on Monday before closing at $213.50. A diagonal spread using a long position in the Jan. '16 $145.00...
Motley Fool  Aug 3  Comment 
The high end of the gaming market is alive and well, and Wynn Las Vegas is making more money than much of The Strip combined.
Market Intelligence Center  Jul 31  Comment 
For a hedged play on Wynn Resorts Ltd (WYNN) MarketIntelligenceCenter.com’s patented trade-picking algorithms selected a Sep. '14 $215.00 covered call for a net debit in the $208.66 area. That is also the break-even stock price for the covered...
SeekingAlpha  Jul 29  Comment 
Wynn Resorts Limited (NASDAQ:WYNN) Q2 2014 Earnings Conference Call July 29, 2014 8:30 AM ET Executives Lewis Fanger - VP Matt Maddox - President Steve Wynn - Chairman of the Board and CEO Robert Gansmo - SVP and CFO, Wynn...
Forbes  Jul 29  Comment 
In early trading on Tuesday, shares of Wynn Resorts (WYNN) topped the list of the day's best performing components of the Nasdaq 100 index, trading up 3.0%.  Year to date, Wynn Resorts registers a 11.8% gain.
TheStreet.com  Jul 29  Comment 
NEW YORK (TheStreet) -- Shares of Wynn Resorts are up 3.02% to $217.35 after the casino resorts company reported second quarter profit that beat analysts' projections as increased gambling in Las Vegas helped overcome weak growth in the Macau,...




 

Wynn Resorts, Limited (NASDAQ: WYNN) develops and operates luxury casino resorts. The company serves Las Vegas, Nevada and Macau, China. In Las Vegas, the company owns the Wynn Las Vegas and Wynn Las Vegas Encore properties while in Macau, the company owns Wynn Macau and Wynn Macau Encore.[1] All of these properties are marketed as luxury resorts[2] and, in Las Vegas, WYNN likes to position its resorts as the most expensive in the city.[3] In 2010, the company earned $4.18 billion in revenue and $316 million in net income.

Company Overview

Business Segments[4]

  • Las Vegas (31% of total revenue, 70% of assets, 57% of costs)
  • Wynn Macau (69% of total revenue, 30% of assets, 43% of costs)

Business Growth[5]

Fiscal Year ended December 31, 2010

  • Revenue increased to $4.18 billion from $3.05 billion in 2009.
  • Net income increased to $316 million from $39.1 million in 2009.

Trends and Forces

Wynn has big exposure to the Macau gaming market

Due to the company's big investments in Macau, the company is both receptive of booms in the emerging markets and susceptible to the busts.The Macau gaming market is largely dependent on the Chinese market and economy. If the market worsens as it had in the 2008-2010 recession, Wynn Resorts could see its bottom line affected accordingly.

Wynn insists on keeping full-time staff employed

During downturns, Wynn's plan is to preserve employment includes pay cuts, reduced work weeks for its employees and suspend 401(k) matching. CEO Steve Wynn believes that eliminating job security worries amongst its employees is paramount to maintaining strong human capital, a driver of the consumer's experience at any Wynn casinos.[6]

Government Regulation and Gaming Laws

Macao's gaming laws and gaming taxes are relatively young and have few precedents, making them quite vulnerable to sudden change. China has a large and affluent middle class, but for many years travel and currency restrictions made it difficult and undesirable for visitors to come to Macao. While the Chinese government relaxed many of these restrictions when it first granted gaming licenses and ended its state-run gaming monopoly, there is no sign that this deregulation trend will continue.[7]

Competition

Wynn Resorts faces intense competition in both Las Vegas and Macau. The company’s primary competitors include Las Vegas Sands and MGM Mirage, both of which operate in the Las Vegas and Macau markets. Wynn Resorts also faces competition from privately-held Harrah’s Entertainment, Boyd Gaming, and Native American casinos.

  • Las Vegas Sands: Like Wynn, LVS has properties in Las Vegas, Macau, Bethlehem in Pennsylvania and Singapore.[8]
  • MGM Mirage: Operates casino resorts, golf courses, and golf clubs in the United States. MGM has a strategic alliance with the Mashantucket Pequot Tribal Nation, owner of Foxwoods Casino Resort in Ledyard, Connecticut.
  • Boyd Gaming: Owns and operates casinos in Nevada, Illinois, Louisiana, Mississippi, Indiana, and New Jersey in addition to pari-mutuel jai alai facility in Florida, two travel agencies, and an insurance company.
  • Harrah's Entertainment: A gaming company that owns and operates under the Harrah's, Caesars and Horseshoe brand names.[9] It also owns the London Clubs International family of casinos and the World Series of Poker.

References

  1. Wikinvest SEC Filings: 2010 10-K WYNN, Page 3
  2. John Dobosz (February 26, 2009). Going All In For Wynn. Forbes.
  3. Oskar Garcia (February 20, 2009). Wynn Resorts to post 4Q earnings on Tuesday. Forbes.
  4. Wikinvest SEC Files: 2010 10-K WYNN, Page 102-103
  5. Wikinvest SEC Files: 2010 10-K WYNN, Item 6: Selected Financial Data
  6. Wynn Resorts Ltd. Q3 2008 Earnings Call Transcript. Seeking Alpha (October 30, 2008).
  7. MacauCasinoWorld.com: History.
  8. Wikinvest: Las Vegas Sands
  9. Corporate Profile. Harrah's Entertainment.


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